Rent to Own Homes in El Dorado
The county seat of... Read More
The county seat of Union County, El Dorado is a small town of 18,00 located near the Arkansas border with Louisiana. The South Arkansas town is lively, with many events such as MusicFest and the Southern Food & Wine Festival held in the town’s vibrant Murphy Arts District.The below results are primarily rent to own homes in :
The county seat of... Read More
The county seat of Union County, El Dorado is a small town of 18,00 located near the Arkansas border with Louisiana. The South Arkansas town is lively, with many events such as MusicFest and the Southern Food & Wine Festival held in the town’s vibrant Murphy Arts District.The below results are primarily rent to own homes in :
In addition to the town’s abundant events, El Dorado also provides a wide range of services and amenities for its residents. Public schools, including El Dorado High School, are operated by El Dorado School District. El Dorado High School is known for its special El Dorado Promise college scholarship program funded by Murphy Oil Corporation. The scholarship provides college funding for any student who attends all four years of high school at El Dorado High. More than 85 percent of El Dorado High’s students go on to college, which is much higher than the national average of 60.7 percent. Residents have access to a number of utilities, including El Dorado water provided by El Dorado Water Utilities. Electricity is provided by Entergy. Several U.S. highways criss-cross through El Dorado, including U.S. Highways 63, 82 and 167. A future Interstate 69 is in the works to connect El Dorado and other Timberlands towns with Interstate 20. For more distant travel, the South Arkansas Regional Airport at Goodwin Field provides commercial service. El Dorado Downtown Airport is used by many of El Dorado’s oil companies.
Buying vs. Rent to Own Homes
Renting to own a home is like a test drive for buying a house. It’s comparable to the car dealership letting you drive out of the lot with the car that you want (after you pay a small option fee) and telling you to come back when you have the money to pay the full price of it, as long as it is within the lease term. Then you make monthly lease payments until you’re ready to buy it.
You should lease-option when you’re close to getting financing for the home you’re looking to purchase, but need a bit more time (1-3 years) before you’re ready. And if you’re unsure about the house, you have more time to consider it from a more personal perspective.
Similarly to test driving a car, once you’re sure that this is the house you want and you have the money to purchase it, you should buy it as soon as possible. There’s no sense in paying rent money for longer than you need to. Rent to own also gives you the flexibility to close on a home whenever you’re ready to. It’s a mix of the best parts of renting and buying.
Rent to Own Realtors
Working with a realtor doesn’t guarantee that you will successfully complete a rent to own deal, but their knowledge and expertise can make a big difference in your success rate.
Unfortunately, not many realtors will want to work with you on a rent to own deal. There isn’t a lot of profit for a realtor in rent to own deals.
So, you’ll need to find others with the knowledge and expertise you are looking for to ensure a successful lease-option experience. Consider consulting with a realtor, a title company and a mortgage officer instead. These professionals are better than a realtor because they are experts in their respective fields, as opposed to realtors who know a good deal about each of those rent to own factors.
About Our Listings
Listing properties for traditional sale eliminates a big chunk of the buyer market. People with bad credit are left out of the traditional home buying process. Nonetheless, buyers who don’t qualify for mortgages are still in the market for apartments and houses.
Rent to own by owner programs with no credit check are an easy way for a seller to start earning money from their townhouse or condo in a market that isn’t viable, which appeals to new groups of buyers.
Through rent to buy and lease to purchase, sellers rent a property to potential buyers for a set lease term. During which, the seller earns profit through the rent buyers pay as a tenants. At the end of the lease, the buyer has the option to buy the property, or if they signed a lease-purchase agreement, they must buy it.
With a little patience, sellers can make rent money and the true value of their home from its eventual sale. Which is better than selling the home cheap and competing with bank-owned foreclosed homes that sell for less than market value.
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